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Please answer all parts of the question. No need to show work, only answers. Classified ads in the local paper offered several used cars of
Please answer all parts of the question. No need to show work, only answers.
Classified ads in the local paper offered several used cars of a particular model for sale. Listed in the accompanying table are the ages of the cars and the advertised prices. Complete parts a through f below. Eff Click the icon to view the table. a) Make a scatterplot for these data. Choose the correct answer below. O A. OB. O C. 15000- 15000- 15000- 12000 12000- 12000 9000- 9000 9000+ 6000- 6000 Price 6000 3000- 3000-+ +1 3000 C 6 9 12 15 6 9 12 15 6 9 12 15 Age (yr) Age (yr) Age (yr) b) Describe the association between Age and Price of a used car of a particular model. The association between Age and Price is and c) Do you think a linear model is appropriate? O A. Yes, the linear model is appropriate because the data points have been randomized. O B. No, the linear model is not appropriate because the variables are not quantitative variables. O C. Yes, the linear model is appropriate because the data points form a relatively straight line and there are no outliers. O D. No, the linear model is not appropriate because the data points do not form a relatively straight line and/or there are outliers. d) Computer software says that R" = 89.3%. What is the correlation between age and price? The correlation, r, between Age and Price is. (Round to three decimal places as needed. e) Explain the meaning of R" in this context. Choose the correct answer below. O A. A linear model on age accounts for 10.7% of the variation in advertised price. O B. A linear model on advertised price accounts for 10.7% of the variation in age. O C. A linear model on advertised price accounts for 89.3% of the variation in age. O D. A linear model on age accounts for 89.3% of the variation in advertised price. f) Why doesn't this model explain 100% of the variability in the price of a used car of a particular model? O A. The ages are rounded to years, but should actually be in terms of months. O B. Other factors such as options, condition, and mileage contribute to the asking price. O C. The data cannot contain more than 10 points to have a model that explains 100% of the variability. D. It is impossible to have a variability above 90%.\fStep by Step Solution
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